Eastgroup Properties (NYSE: EGP) reported Q3 EPS of $0.62, $0.02 better than the analyst estimate of $0.60.

• Net Income Attributable to Common Stockholders of $0.62 Per Share for Third Quarter 2020 Compared to $0.60 Per Share for Third Quarter 2019
• Funds from Operations of $1.36 Per Share for Third Quarter 2020 Compared to $1.28 Per Share for Third Quarter 2019, an Increase of 6.3%
• Same Property Net Operating Income for the Same Property Pool Excluding Income From Lease Terminations for Third Quarter 2020 Increased 3.0% on a Cash Basis and 2.3% on a Straight-Line Basis Compared to Third Quarter 2019
• 97.8% Leased and 96.4% Occupied as of September 30, 2020; Average Occupancy of 96.6% for the Third Quarter 2020
• Rental Rates on New and Renewal Leases Increased an Average of 28.0% on a Straight-Line Basis
• Transferred Seven Development Projects (899,000 Square Feet) to the Real Estate Portfolio
• Development and Value-Add Program Consisted of 13 Projects (2.2 Million Square Feet) at September 30, 2020 with a Projected Total Investment of $227 Million
• Declared 163rd Consecutive Quarterly Cash Dividend - Increased the Dividend by $0.04 Per Share (5.3%) to $0.79 Per Share
• Issued 238,086 Shares of Common Stock Pursuant to the Company\'s Continuous Common Equity Offering Program at an Average Price of $133.27 Per Share for Aggregate Net Proceeds of $31.4 Million
• Remaining Available Capacity of $318 Million on the $395 Million Lines of Credit as of September 30, 2020
• Entered into a Note Purchase Agreement on a Private Placement of Senior Unsecured Notes Totaling $175 Million With a Weighted Average Fixed Interest Rate of 2.65%
• $75 Million of Debt Maturities Remaining During the Year 2020 With a Weighted Average Fixed Interest Rate of 3.45% and $45 Million in Planned Early Debt Repayments During the Remainder of 2020 With a Fixed Interest Rate of 4.39%

For earnings history and earnings-related data on Eastgroup Properties (EGP) click here.